Creditor Relations

The Group’s goal is to minimise financial risk and the cost of capital, whilst preserving the Group’s lasting financial stability and flexibility. In order to maintain its unrestricted access to the capital markets, the Group continues to aim for a credit rating appropriate to the sector.

Finance Strategy

Building on the principles and aims of financial management, the Supervisory Board approved a financial strategy in March of 2010. In addition to the interests of shareholders, the strategy also takes lender requirements into account. The goal is for the Group to maintain its financial flexibility and low cost of capital by ensuring a high degree of continuity and predictability for investors.

Credit Ratings

Credit ratings represent an independent and current assessment of a company’s credit standing. The ratings are based on a quantitative analysis and measurement of the annual report and appropriate planning data. Qualitative factors, such as industry-specific features and the company’s market position and range of products and services, are also taken into account.